SBI Cards & Payment Service Ltd not entitled to Refund of Krishi Kalyan

The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that SBI Cards and Payment Services Ltd. is not entitled to a refund of the Krishi Kalyan Cess (KKC). The Tribunal based its decision on prior judgments, including those involving Bharat Heavy Electricals Ltd. and Slovak India Trading Co. Pvt. Ltd. Despite arguments from SBI Cards regarding their eligibility for a refund under Section 142(9)(b) of the CGST Act, the Tribunal concluded that the existing laws did not permit such refunds in cash for KKC. The Tribunal maintained that only Cenvat credit eligible under previous laws could be refunded​